Assessment Collections Policy Language Update
As noted during the April 27, 2021 Landings Association Board Meeting, a slight edit is required for the Association’s Assessment Collections Policy. Upon further review of this section in the Board Policy Manual, which was updated in 2020, preexisting language should have been deleted, noting when suspension of membership privileges occur. The wording says 30 days after a letter is mailed April 1. However, the suspension should occur simultaneously, based on language in the Association’s Covenants, and per discussion with the Association's legal counsel. The changes are below, in red.
If you have any comments, please email email@example.com. The Board plans to take action on this item during May’s Board Meeting.
F. Collections Policy
1. Policy: Delinquent Member Assessments will result in penalties, suspension of member privileges, and legal action as determined by the Board of Directors. A timeline for collection of delinquent accounts is outlined below:
Note: Other charges may be incurred for non-sufficient funds and other collections costs not specifically mentioned above.
This article was originally published by The Landings Association on their website. Visit landings.org to read the original article. https://landings.org/news/2021/04/28/assessment-collections-policy-language-update